Modulr CEO heralded hitting the mark as an "important milestone".
PayPal-backed UK fintech Modulr has reported its first full-year net profit, it says, ahead of announcements regarding its US expansion.
Myles Stephenson, CEO and co-founder, heralded the achievement as an “important milestone”. He said: “It gives us control over our destiny: the ability to invest in products for our customers, expand globally, and pursue strategic opportunities.”
Modulr provides white-label payment infrastructure for businesses, calling itself an “embedded payments platform”. Modulr, which has an Electronic Money Institution (EMI) licence and employs over 400 people, provides payment services for the likes of Sage, Wagestream and HMRC.
Modulr did not disclose a specific net profit figure for 2025, but the net profit marks an upturn from 2024. Financial results for Modulr Holdings show pre-tax losses of £11m in the year ending 2024.
On its 2025 full-year profit, Stephenson said: “Modulr’s profitability has been driven by sustained commercial growth across our focus markets.”
It says it processes more than 200m transactions and over £180bn in payment value on a yearly basis.
Asked if Modulr, founded in 2016, had made any cuts to hit profit, Stephenson said: “We have continued to grow our team across the UK, Europe, the US and India.”
Hitting a full-year profit continues to be a key metric for fintechs, as they look to show investors the robustness of their financials.
Stephenson said Modulr had no current plans for external fundraising. Modulr last undertook a fundraise, around £83m, in 2022, led by General Atlantic.
Other investors in the round included Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures, PayPal’s VC arm.
Earlier this year, London-headquartered Modulr announced its expansion into the US through a strategic partnership with financial technology firm FIS.
Stephenson added: “This is a foundation. It gives us greater flexibility to accelerate investment in the markets where business payments remain the most complex – particularly as we expand in the US and deepen our capabilities in AI-powered automation. Our focus remains on building products that businesses can rely on as they scale globally.”